How To Keep Your Insurance Costs Low

Ask for higher deductibles. This applies if you have full coverage. Policies like comprehensive and collision require money to be paid during the claim process. By requesting a higher voluntary financial responsibility, you will alleviate the company’s responsibilities. In return, you will get cheaper premiums. You can use the saved money for an emergency fund. It is wise to ask an agent or compare prices online before modifying the deductibles.

Keep a clean driving record. Having a spotless driving history will help you accumulate and access a series of bonuses and discounts. For example, the most sought one is the no-claim bonus, entitled to those considered safe-drivers. Depending on your insurance provider, you can save around 10-20% on car insurance. On a multi-thousand policy, this is huge.

Be loyal to your company. In the auto insurance industry, loyalty is sought after by every company. Keeping a steady flow of money from loyal customer is the key to success and any company knows that. This is why insurers are willing to provide a discount to persons willing to stay another insurance term with them. The loyalty discount is activated after three or five consecutive years. If it is renewal time and you have more than 3 years since you cooperate with your insurer, you should ask for the loyalty discount.

Park your car in a safe spot. Keeping your car under close surveillance will not only help you avoid car robberies, but also keep insurance costs under your control. Comprehensive coverage pays for stolen cars and by reducing this risk you also reduce the payments you need to make.

Drive fewer miles per year. Driving less than a specified number of miles, you can become eligible for a low mileage discount.